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20121118
20121118
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something that's trending on the web right now. it's this white house photo showing president obama and olympic gymnast mikala maroney looking not impressed. the president was having a little fun with maroney who had that same face when she finished the vault. that look went viral. i'll be back and show you how the twinkie is iconic in mexico. that's right, mexico. stay with cnn. "your money" starts right now. >>> this is the economic storm of our own making and it's threatening any chance of a sustained recovery. i'm ali velshi. this is "your money" and i'm going to show you the damage america could do to itself if washington allows us to go over the fiscal cliff. unemployment in the u.s. which has come down to to 20.9%, it could go up another 9%. according to a new research new york post poll, you clearly understand the danger of this fiscal cliff. 50% say it will have a major effect on the economy, 21% say a minor effect, 2% no effect, 10% say they don't know, which is why you're watching this right now. president obama says they're centering around increasing tax on the wealthy
% say a minor effect, 2% no effect, 10% say they don't know, which is why you're watching this right now. president obama says they're centering around increasing tax on the wealthy which will go a good way in increasing the revenue that he wants to raise in the next decade in an attempt to reduce the federal deficit. he wants to reinstate the bush tax cut which goes to the top 2% of earners. that would jump from 36% to 39%. he likes to say that's where it was during the clinton years. the second one would go from 36% to 39%. he's been focusing on this specific number since his reelection which suggests he may compromise on the actual rates in order to get a deal. there are other taxes as well he's talking about. taxes on investment gain would also go up. the capital gains tax would go from 15% to 20% and dividend taxes would go from 50% to the income tax rate. as i showed you, 39.6%. president obama argues this will hurt people with savings and dividend stocks, but the overall investment gains are enjoyed by the wealthy. this, again, would target that rich group that president obama is
Search Results 0 to 1 of about 2